The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement,

Every year the Federal Reserve conducts a stress test on about 30 U.S. banks to evaluate their ability to withstand economic crises, using hypothetical scenarios such as when the unemployment rate rises to 10 percent and housing prices drop 40 percent.

The Federal Reserve announced that it has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System, which incorporated climate risk into financial rules.

The yield on the 10-year Treasury has recently soared toward its highest level since 2023, injecting nervousness into the U.S. stock market that's knocked indexes from their records.

Ahead of Donald Trump taking office, Federal Reserve's top banking regulator has resigned from his role as vice chair of supervision.

Federal Reserve Chair Jerome Powell no doubt had started to relax about the economy. But then yesterday the Consumer Price Index increased over the last 12 months to 2.9%, making the third month in a row it has jumped. Core inflation less food and energy prices were up 3.2%.

The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how the financial system could help combat climate change

The United States central banking system, the Federal Reserve, is less likely to cut rates this month during its regularly scheduled two-day meeting following stubbornly rising inflation.

President-elect Trump on Tuesday declared interest rates are too high even as he decried still-elevated inflation, setting up renewed tensions with the central bank chair who resisted pressure cut

Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

Federal Reserve officials at their meeting ... Dec. 18 after they reduced their outlook for rate cuts. Fed Chair Jerome Powell said at a news conference after the meeting that the decision to ...

This contradicts months of claims from Jerome Powell who has insisted that price inflation was rapidly returning to the Fed's two-percent price inflation goal.